Zambia has launched a national geological mapping program to better understand its mineral resource deposits and untapped potential.
Spearheaded by the government, the survey will promote mineral exploration in the country by quantifying resources and supporting strategic investments, with a view to capitalizing on growing global demand for critical minerals.
Speaking at a mining conference in Cape Town on Monday, Zambian President Hakainde Hichilema stated that “by 2040, an additional nine million tons of copper will be required each year to keep up with the pace of global demand. As the home with some of the world’s highest deposits [of copper], Zambia recognizes our role in meeting this demand.”
President Hichilema added that the country aims to establish itself as the partner of choice for mining companies, stating: “Zambia has a stable, predictable mining and fiscal regime…We are working with local and international partners to boost energy and infrastructure to support our bold mining ambitions.”
In conjunction with supporting exploration, Zambia is prioritizing the development of its local mining value chain, addressing bottlenecks related to infrastructure and transport to expand mineral exports.
“We have opened up the market to private sector players. We have also lined up infrastructure projects like the Lobito Rail Line to provide a smoother road to market,” he added.
